23rd Oct 2015 09:11
LONDON (Alliance News) - Computer equipment distributor Northamber PLC Friday reported a narrowed pretax loss for its most recently ended financial year and said it remains "prudently optimistic" it will provide a profitable business for the future.
For the year to end-June the company reported a pretax loss of GBP886,000, narrowed from a pretax loss of GBP1.2 million a year before, as revenue rose to GBP65.5 million from GBP62.9 million.
The company labelled its performance a year of "contrasting fortunes", with a positive first half performance followed by a second half that was hit by disruption surrounding the release of Microsoft Corp's Windows 10 software.
Microsoft announced the cancellation of Windows 9 in March and launched Windows 10 in July. This drove uncertainty in the commercial user sector, producing a "strong hiatus" in otherwise normal anticipated demand run-rates. After the release of Windows 10, reports of problems with the product led to this hiatus continuing.
"Whilst commercial users continue to seek to fully understand the new operating system's exact capabilities, or limitations, and the effect on their established in-use legacy software and hardware, they are largely refusing to commit to further hardware or software purchases," the company said.
Northamber proposed a final dividend of 0.3 pence, which brings its total dividend for the year to 0.6 pence, in line with the previous year.
"Although remaining optimistic regarding the future of the company, at this point in time I am unable to forecast the immediate future with any certainty but will continue to use our very best endeavours to deliver change and continue to aggressively dilute our empty revenue exposure to the commercial impossibilities of the mainstream hardware based sector," said Chairman David Phillips in a statement.
Shares in Northamber were untraded Friday morning. It last closed at 41.10 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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